Time Order

Posted in Marketing and Strategy Terms, Total Reads: 534

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Definition: Time Order

Time order is mostly used when a party is behind schedule on payments and a new time period is allotted to the party to execute the transaction in that given time. The new time order can bring in many changes like reconsidering the amount which needs to be paid, how frequently will the transactions happen and also how long the entire process will last.

The order can be cancelled if the order is not executed in that time period. In some cases, if the party is unable to fulfil that transaction in the time order, it can go for market order.

In a market order, some producers can work together to solve the existing marketing problems. It is helpful since the individual producer is finding it difficult to complete the order. Market order will bring in the required resources and structure to complete the order.

The main advantage of the time order is that the information becomes more organized and the customer understands all the steps from start to end. It is a very powerful organizing principle which needs to be followed by all the members of the organisation. A timeline is set to bring in the order of activities. When the customers are satisfied, it automatically brings sales and growth into the company so it is very important from the customer experience perspective.